Consumer confidence increased in February

The Statistical Institute of Turkey published the Consumer Confidence Index data for February 2023.

Accordingly, the Consumer Confidence Index calculated from the results of the Consumer Trend Survey conducted in cooperation with the Turkish Statistical Institute and the Central Bank of the Republic of Turkey, increased by 4.3 percent in February compared to the previous month and became 82.5.

DATA COLLECTED BEFORE THE EARTHQUAKE

TurkStat stated that the results largely reflect the pre-earthquake situation, as most of the consumer trends survey data was compiled before February 6, 2023.

While the index, which was 79.1 in January, rose to 82.5 in February, the financial situation of households in the current period rose 6.3 percent to 65.5. The expectation of the financial situation of the household in the next 12 months increased by 5.4 percent and became 84.2.

The expectation of the general economic situation in the next 12 months increased 3.8 percent to 85.8. The estimate of spending on durable goods in the next 12 months rose 2.5 percent to 94.5.

If the index is greater than 100, it indicates an optimistic situation in consumer confidence, while less than 100 indicates a pessimistic situation in consumer confidence.